Seasonal Workers - A Guide to Reducing Costs of Sending Money Back Home
This guide presents some useful tips about reducing the costs of sending money back home, particularly for workers from the Pacific region such asJN0-522 Samoa, Kiribati, Tuvalu, Vanuatu, Solomon Islands and Tonga.
Every year, on average, between 7,000 and 8,000 workers converge on New Zealand orchards to pick or pack fruit to earn money to send home to their families and friends. Pacific workers account for almost three quarters of all registered seasonal employees in New Zealand. A person can save up to $12,000 in total after tax by the end of the season which is a significant amount.
It appears that a majority of workers consider the scheme a great opportunity to save a substantial amount of money to take home. Also, a high proportion of workers are made up of men who have families to support financially. Therefore, they must send money back home to their families every month. While most people manage their money well, some people transfer money too frequently. It can cost up to $45 dollars for a transaction after the transfer fees including conversion rates have been deducted by the banks from the sending and receiving countries. Therefore, it seems that many workers do not know the true cost of sending money. The following guidelines could help them save money. JN0-532So, consider the following tips:
Avoid sending small amounts of money frequently e.g. every week. Instead send large sums of money at one time (once a month) to reduce the transfer fee charges of $25 NZD across most banks.
Visit a variety of different banks and talk to someone at the customer service desk about the cheapest way to send money home.
Compile all the information that you have gathered about each bank and then determine which bank offers the cheapest rate.
If you have access to a computer and an Internet at your work place or home, open Internet Explorer and type 'sendmoneypacific' in the browser. This is a website that was jointly created by New Zealand and Australian Governments' to reduce the costs of remittances to the Pacific. Visitors to the site can find out the true cost of sending money; find the exchange rate; and, compare money transfer costs across different banks.
Consider the results of your investigation and decideJN0-141 whether you should open an account with the bank that offers the cheapest rate of sending money home. Note, if the bank or affiliate bank does not exist in your country, stay with your current bank and re-consider Step 1, above.
Every year, on average, between 7,000 and 8,000 workers converge on New Zealand orchards to pick or pack fruit to earn money to send home to their families and friends. Pacific workers account for almost three quarters of all registered seasonal employees in New Zealand. A person can save up to $12,000 in total after tax by the end of the season which is a significant amount.
It appears that a majority of workers consider the scheme a great opportunity to save a substantial amount of money to take home. Also, a high proportion of workers are made up of men who have families to support financially. Therefore, they must send money back home to their families every month. While most people manage their money well, some people transfer money too frequently. It can cost up to $45 dollars for a transaction after the transfer fees including conversion rates have been deducted by the banks from the sending and receiving countries. Therefore, it seems that many workers do not know the true cost of sending money. The following guidelines could help them save money. JN0-532So, consider the following tips:
Avoid sending small amounts of money frequently e.g. every week. Instead send large sums of money at one time (once a month) to reduce the transfer fee charges of $25 NZD across most banks.
Visit a variety of different banks and talk to someone at the customer service desk about the cheapest way to send money home.
Compile all the information that you have gathered about each bank and then determine which bank offers the cheapest rate.
If you have access to a computer and an Internet at your work place or home, open Internet Explorer and type 'sendmoneypacific' in the browser. This is a website that was jointly created by New Zealand and Australian Governments' to reduce the costs of remittances to the Pacific. Visitors to the site can find out the true cost of sending money; find the exchange rate; and, compare money transfer costs across different banks.
Consider the results of your investigation and decideJN0-141 whether you should open an account with the bank that offers the cheapest rate of sending money home. Note, if the bank or affiliate bank does not exist in your country, stay with your current bank and re-consider Step 1, above.
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